The benefits of promoting SOAR
Benefits to brokers
- Increase retention levels by providing this additional unique offering. Together with SOAR, Gallagher Aerospace can further enhance its position as trusted advisor to their important client base.
- Generate another source of business. By engaging clients through the operational and risk areas, another contact point is generated with key prospects. Such engagement can lead to insurance business in the future.
- SOAR has been expertly designed by our in-house team of specialists, which includes members with years of combined broking experience.
- SOAR is OUR resource. We can tailor our services and value propositions to best serve the needs of our clients.
- Our unique offering provides clients with the ability to reduce their risk exposures and improve their overall safety and compliance needs. A safer client is a better client from an insurance perspective
- When so desired by the client and the underwriters, part of our programmes can be funded through slip bursaries, potentially providing a cost neutral service.
- Whilst many of our clients will have their own safety initiatives in place, our services are flexible and designed to complement these, helping to further increase safety, improve processes and ultimately reduce costs within their business.
What sets SOAR apart?
We provide additional services that set us apart from our competitors such as:
Latin American Aviation Safety Centre (LASC)
The Latin American Aviation Safety Centre (LASC) is a safety training centre of excellence based in Colombia that will ultimately enhance safety expertise to the overall aviation community. The LASC assists the aerospace community in Latin America and to the larger worldwide audience through online and virtual programmes to:
- Enhance operational safety and quality
- Obtain and maintain IOSA, ISSA, ISAGO and other industry recognised registrations
Attendees receive the Aviation Safety Certificate (ASC) upon completion of all courses. This provides structured elements of:
- Safety
- Risk
- Quality
- Compliance monitoring
It teaches participants to manage safety as a business process, while understanding the intricacies of safety management. It is the only Safety Certificate in the region providing a valuable resource to the industry.
Insurance Safety Advisory Tool (ISAT)
Designed by Sirius Aviation, the ISAT is a structured process that supports the underwriting process and our ability to place at best terms the aviation insurance programme of our clients. It allows for greater understanding of the factors specific to the operator’s risk profile and the effectiveness of its Safety Management System to manage operational safety and performance.
The Insurer Safety Advisory Tool (ISAT) model is based on:
- Balancing the operator risk profile against the safety management capability to oversee safe operations
- Reviewing operator organisational governance: What it says it does to the actual performance and existing management processes in place
- Reviewing safety and operational information that is gathered from different sources, how it is collectively analysed and applied to safety governance and continuous improvement
- Accounting for safety innovation and continuous improvement initiatives specific to the operator to reduce risk
The ISAT tool assesses the level of SMS capability in relation to the operating risk profile. A higher score means an increased expectation of SMS capability. Our ability to run this programme internally effectively enhances the information flow to the underwriting community, ensuring a controlled and more structured placement process.
Lessor Technical & Operations Assurance Tool (LTAT)
Designed by Sirius Aviation, the LTAT model is based on the review of an operator organisational technical, flight and safety governance processes supporting oversight, continued airworthiness and maintenance implementation of a leased asset.
The tool focuses on the operational information gathered from different sources, and how the operator monitors and measures operational performance to support risk informed governance and safety standards in Flight & Ground Operations and CAMO/P145 for the leased asset.
The LTAT tool architecture and data model comprises a Risk Model (flight operations risk and asset lifecycle costs risk) and Aircraft Delivery/Return and Continued Airworthiness review questionnaire, supported by evidentiary documentation materials, structured interviews and site visits. LTAT output is to advise the lessor on:
- The operational and financial risk of placing a leased asset with an operator and advice on how to mitigate these risks
- The ongoing monitoring of operational oversight of the asset (operations change or modifications)
- The return condition of the leased asset in accordance with the agreement
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